Ralph Lauren’s Q4 profit jumps 35%
New York – Ralph Lauren Corp. reported a 35% jump in fourth-quarter profit as the retailer benefited from lower cotton prices.
The company reported net income of $127.2 million for the three months that ended March 30, compared with $94.4 million, or 99 cents per share, a year earlier.
Total net revenue rose 1.3% to $1.64 billion. Retail sales improved 7%, while wholesale sales declined 3.9%
Meanwhile, net income for the fiscal year rose 1% to $1.6 billion, which the retailer said resulted from strong retail segment growth that was partially offset by decline in wholesale segment sales and net unfavorable foreign currency effects. During the fourth quarter, net income grew 35% from $94 million to $127 million.
Ralph Lauren attributed both the quarterly and full year retail sales improvement to incremental contribution from new stores and e-commerce operations, as well as consolidated comparable store sales growth of 3%.
"We achieved record sales and profit levels in fiscal 2013," said Ralph Lauren, chairman and CEO. "Our relentless focus on innovation and our commitment to superior craftsmanship continued to build our global customer base. We have an exciting next few years ahead of us, especially as we grow our global store network and e-commerce platforms to showcase the full scope of our brand portfolio and lifestyle sensibilities.”
Dollar Tree has record Q1 sales
Chesapeake, Va. – Dollar Tree reported record net sales for first quarter 2013, with consolidated net sales of $1.87 billion, an 8% increase from $1.72 billion during the same quarter of the prior year. Net income totaled $133.5 million, and same store sales grew 2.1%, on top of a 5.6% increase recorded during first quarter 2012. Dollar Tree estimates full fiscal year net sales will range from $7.81 billion to $7.97 billion.
Dollar Tree president and CEO Bob Sasser said he is pleased with the first quarter results.
“Our stores are executing at a high level and we are well positioned with great assortments and the best values ever for Memorial Day, Graduation and an exciting summer selling season," said Sasser.
GameStop sales fall, but mobile sales explode
Grapevine, Texas – While overall sales for GameStop fell significantly during first quarter 2013, the video game retailer can take some solace in a substantial boom in mobile sales. Total sales of $1.87 billion were about 7% below $2 billion in sales recorded during the first quarter of last year. However, mobile sales grew an impressive 290% to $46.8 million and digital receipts increased 47%. Net earnings of $54.6 million were 25% below net earnings of $72.5 million a year earlier.
“GameStop’s continuing margin expansion, growing new businesses and market share gains are the results of executing our strategic plan” said CEO Paul Raines. “We look forward to capitalizing on the upcoming new console cycle.”